Insider Selling: CareDx (NASDAQ:CDNA) CEO Sells 10,156 Shares of Stock

CareDx, Inc. (NASDAQ:CDNA) CEO John Walter Hanna, Jr. sold 10,156 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $21.05, for a total transaction of $213,783.80. Following the completion of the sale, the chief executive officer directly owned 616,885 shares of the company’s stock, valued at $12,985,429.25. The trade was a 1.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CareDx Trading Up 0.9%

Shares of NASDAQ CDNA traded up $0.19 during midday trading on Tuesday, reaching $20.20. 464,774 shares of the company were exchanged, compared to its average volume of 901,352. The stock has a market cap of $1.04 billion, a P/E ratio of 16.97 and a beta of 2.49. CareDx, Inc. has a 1 year low of $10.96 and a 1 year high of $25.55. The stock has a fifty day simple moving average of $18.57 and a 200 day simple moving average of $15.83.

CareDx (NASDAQ:CDNA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.15. The company had revenue of $100.06 million during the quarter, compared to analysts’ expectations of $95.25 million. CareDx had a return on equity of 20.15% and a net margin of 19.65%.The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm earned ($0.14) EPS. As a group, analysts forecast that CareDx, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CDNA. Wells Fargo & Company increased their price target on shares of CareDx from $14.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CareDx in a research report on Monday, December 29th. Craig Hallum cut CareDx from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Tuesday, January 6th. Wall Street Zen upgraded CareDx from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Finally, BTIG Research increased their price objective on CareDx from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, CareDx has a consensus rating of “Hold” and a consensus price target of $26.67.

Institutional Trading of CareDx

A number of institutional investors have recently bought and sold shares of the company. Bamco Inc. NY increased its position in shares of CareDx by 29.5% in the third quarter. Bamco Inc. NY now owns 3,155,180 shares of the company’s stock valued at $45,876,000 after buying an additional 719,523 shares in the last quarter. Deerfield Management Company L.P. acquired a new stake in CareDx in the 3rd quarter valued at about $31,857,000. Braidwell LP purchased a new position in CareDx during the 3rd quarter valued at about $31,738,000. ARK Investment Management LLC raised its position in CareDx by 3.4% during the third quarter. ARK Investment Management LLC now owns 2,170,625 shares of the company’s stock worth $31,561,000 after acquiring an additional 70,468 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd lifted its holdings in shares of CareDx by 17.0% in the second quarter. Ophir Asset Management Pty Ltd now owns 1,892,994 shares of the company’s stock valued at $36,989,000 after purchasing an additional 274,625 shares in the last quarter.

CareDx Company Profile

CareDx, Inc (NASDAQ: CDNA) is a precision diagnostics company focused on the care of transplant patients. The firm develops and commercializes non‐invasive tests designed to detect organ transplant rejection and infection risk, helping physicians make informed management decisions throughout the post‐transplant journey.

The company’s core product portfolio includes AlloMap®, a gene expression profiling test for heart transplant recipients, and AlloSure®, a donor‐derived cell‐free DNA assay used primarily in kidney transplant monitoring.